Chemtrade Logistics Income Fund (TSE:CHE.UN) Sets New 52-Week High on Analyst Upgrade

Chemtrade Logistics Income Fund (TSE:CHE.UN) reached a new 52-week high during trading on Wednesday after BMO Capital Markets raised their price target on the stock from C$11.00 to C$12.00. BMO Capital Markets currently has an outperform rating on the stock. Chemtrade Logistics Income Fund traded as high as C$10.81 and last traded at C$10.81, with a volume of 49259 shares. The stock had previously closed at C$10.69.

A number of other brokerages also recently issued reports on CHE.UN. Scotiabank raised their price objective on Chemtrade Logistics Income Fund from C$10.50 to C$11.00 in a research report on Monday, August 19th. Desjardins lifted their price target on shares of Chemtrade Logistics Income Fund from C$13.00 to C$13.25 and gave the company a “buy” rating in a research report on Friday, August 16th. National Bankshares increased their price objective on shares of Chemtrade Logistics Income Fund from C$13.50 to C$14.00 and gave the stock an “outperform” rating in a research report on Friday, August 16th. Finally, CIBC lifted their target price on shares of Chemtrade Logistics Income Fund from C$13.50 to C$14.00 in a report on Friday, August 16th. One investment analyst has rated the stock with a hold rating and five have issued a buy rating to the company’s stock. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of C$12.71.

Chemtrade Logistics Income Fund Trading Up 1.9 %

The company has a market cap of C$1.27 billion, a price-to-earnings ratio of 9.93 and a beta of 1.49. The company has a quick ratio of 0.48, a current ratio of 0.40 and a debt-to-equity ratio of 128.02. The business’s fifty day simple moving average is C$9.84 and its two-hundred day simple moving average is C$9.20.

Chemtrade Logistics Income Fund Announces Dividend

The company also recently announced a monthly dividend, which was paid on Friday, August 30th. Stockholders of record on Friday, August 30th were issued a $0.055 dividend. This represents a $0.66 annualized dividend and a dividend yield of 6.04%. The ex-dividend date of this dividend was Wednesday, July 31st. Chemtrade Logistics Income Fund’s payout ratio is currently 60.00%.

About Chemtrade Logistics Income Fund

Chemtrade Logistics Income Fund provides industrial chemicals and services in Canada, the United States, and South America. It operates through Sulphur Products & Performance Chemicals (SPPC), Water Solutions & Specialty Chemicals (WSSC), and Electrochemicals (EC) segments. The SPPC segment removes and/or produces merchant, regenerated, and ultra pure sulphuric acid, sodium hydrosulphite, elemental sulphur, liquid sulphur dioxide, hydrogen sulphide, sodium bisulphite, and sulphides.